9 golden rules for measurement - gain theory · don’t use partial methods, like digital...
TRANSCRIPT
9 Golden Rules for Measurement
1. Define success in advance
Avoid the Texas sharpshooter fallacy: painting the target once the shots have been fired
2. Use a level playing field
Treat every channel alike
3. Know your fundamentals across all media channels
Cost per thousand impressions, cost per TVR, viewability, advertising context
9 Golden Rules for Measurement
All simple. Always followed?
Inputs Outputs Outcomes
SpendViewable impressions
GRPs
ClicksTelephone calls
SalesWeb visits
Brand metricsMarket share
4. Right methodology, right job
Don’t use partial methods, like digital attribution, for holistic challenges
5. Triangulate
Seek consensus from multiple sources :econometrics, attribution, brand metrics
6. Timely results
Be honest and realistic about what can be delivered
Offline Online Planning Decisions
Budget setting
Channel allocation
Targeting
In-channel allocation
Messaging
Format detail
MMM and Brand Health Modelling
TV spot-matching
Match-back
reporting (e.g. DM)
Digital attribution
Last touch analysis
Granular decisions
High level decisions
High cadence
Low cadence
HOLY GRAIL
WHOLLY UNNECESSARY
Complete
Partial
Takes timeImmediate
Input metrics
Digital attribution / TV spot-matching
Brand metrics
Econometrics
Long term modelling
7. Be choosey about metrics
Don’t succumb to death by data
8. Allocate budget towards testing
Don’t optimise into a corner Be prepared to fail and learn
9. Context is important
Context changes So what worked in the past, might not work today
Apply human judgement to assess when this is true…
and what to do next
70%Consistent use of known successful channels
20%Testing new strategies
within existing mix
10%Testing new
channels